1300 S Parker Rd #199

Four Square Mile, CO 80231

$55,000C

1 bd · 1.0 ba · 625 sqft · Built 1972 · Condo · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,095/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$47
• HOA: −$462
• Vac / Maint / Mgmt: −$230
• Net cashflow: $68/mo
• Annual: $812/yr
• Cap rate: 7.77%
• Cash-on-cash: 5.27%
• DSCR: 1.23
• 1% rule: 1.99%
• Cash to close: $15,400

Investor read

• This is a 1-bed/1.0-bath condo listed at $55k.
• At list price, monthly cash flow is $68 ($812/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• It's been on market 52 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Cherry Creek School District No. 5 In The County Of Arapah (urban): math 40% / reading 58% proficiency, ranked #11 of 86 in CO (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Village East Community Elementary School (math 2% / reading 27%, grade F, #793 of 966 statewide, top 84%, 689 students, 68% FRL); Prairie Middle School (math 6% / reading 15%, grade F, #245 of 270 statewide, top 91%, 1,383 students, 71% FRL); Overland High School (math 23% / reading 43%, grade F, #216 of 381 statewide, top 57%, 2,109 students, 64% FRL) — zoned schools average 68% FRL vs 21% district-wide (47 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 19% at this address vs 49% district-wide (-30 pts) — the specific schools serving this property underperform the Cherry Creek School District No. 5 In The County Of Arapah average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 42% of rent.
• Market conditions: Rents soft (-1.3%/yr); 45 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,927 units permitted in Arapahoe County in 2024 (1,525 in 5+ unit buildings).
• Arapahoe County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 7.8% vs local median 2.8% in Four Square Mile — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent is only 17% of the median local income ($77k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.